Retailers see biggest-ever Cyber Monday after record online Black Friday

(Reuters) – U.S. retailers kicked off Cyber Monday by launching a slew of deals earlier than usual over the weekend, seeking to sustain the momentum of a record $11.6 billion in online sales on Thanksgiving and Black Friday.

FILE PHOTO: Packaged merchandise on a conveyer belt after being labeled for shipping is seen at the Amazon fulfillment center in Robbinsville, New Jersey, U.S., November 26, 2018. REUTERS/Shannon Stapleton

Shoppers already had nearly a month of sales promotions as retailers look to draw out a holiday season that on paper is six days shorter this year due to a late Thanksgiving.

But estimates from Adobe Analytics on Sunday predicted the opening weekend of U.S. retailers’ crucial holiday season would set a new record of almost $30 billion in sales, with Cyber Monday – now traditionally the U.S. economy’s biggest online shopping day – alone expected to reach $9.4 billion.

Amazon.com Inc and other traditional retailers such as Target Corp and Walmart have beefed up delivery services to fulfill online orders faster as more customers shop on their mobile phones and tablets at home.

“We expect Cyber Monday to be the second most popular day of the five-day shopping period, mostly driven by mobile traffic, Cowen analyst Oliver Chen said.

Digital sales this year are also likely to get a big boost from orders through social media platforms like YouTube, WeChat, Instagram and Facebook.

“Brands and retailers will feel the effects of a Gen Z with even greater purchasing power,” said Rob Graf, vice president of strategy and insights at business software provider

Keep reading this article on Reuters Business.

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